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Gibraltar Equipment Finance Extends $1.75MM to Sponsor-Backed Electric Services Company

January 22, 2024, 07:00 AM
Filed Under: Equipment Finance News

Gibraltar Equipment Finance (GEF) closed a $1.75MM equipment lease to support an electric utility infrastructure services company (Company). The new capital equipment facility supports the Company’s recent geographical footprint expansion.

The Company provides repair, remanufacturing, decommissioning, recycling, and maintenance services to utilities, municipalities, and other electric supply companies. Transformers are an integral component of the complex electric power distribution network, and for over 50 years, the Company has been a leader in managing the entire transformer lifecycle. The Company’s mission-critical services help customers save money, extend equipment life, and increase power distribution efficiency nationwide.

The Company sought to fund its expansion without disturbing its senior and mezzanine debt arrangements. While a real estate investor built a new manufacturing facility for the Company supported by a long-term lease, GEF funded all the capital equipment needed to serve the utility customers that will depend on the new operation.

“The flexibility of our capital solutions is exemplified by this transaction, showcasing how we tailor our offerings to our client's unique equipment needs and fit the financing inside the constraints of their senior credit agreement,” said Jeff Pfeffer, President of GEF. “It reaffirms our position as a consultative financing partner, ready to navigate the complexities of a company’s financing profile with a custom solution.”

For more equipment finance and leasing industry news, visit Equipment Finance Advisor.

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